Miguel Torres (Chile) joins International Wineries for Climate Action (IWCA)

International Wineries for Climate Action (IWCA) has increased its collaborative effort to decarbonize the global wine sector with the admission of five new wineries hailing from France, Chile and Australia.

Miguel Torres (Chile) has become the latest silver member of IWCA, and four other wineries from France, Chile and Australia have signed up as applicant members, committed to take immediate action to reduce their carbon emissions.

The total number of IWCA members now stands at 27 wineries, who have joined in the time since its foundation by winemakers Miguel A. Torres (Familia Torres) and Katie Jackson (Jackson Family Wines) in February 2019.

Miguel Torres has joined as Silver Member after committing to become Net Zero by 2050 at the latest and completing an annual third-party audited greenhouse gas emissions inventory.

The winery, founded in 1979 by Miguel Torres, is one of the main Chilean producers of premium wines with 400-hectare organic vineyards and presence in over 100 countries.

“We must undertake concrete actions to reduce and mitigate the impacts produced by our processes. All companies should do the same. Our participation in IWCA is key for us as we will join a strict protocol to mitigate CO2 emissions, adopt actions implemented by other wineries around the world and share information regarding new projects” said Jaime Valderrama, General Manager of Miguel Torres Chile.

The other four wineries that have been accepted as IWCA’s applicant members are Champagne Lanson and Famille Perrin from France, Viña Undurraga from Chile and Voyager Estate from Australia.

 

IWCA has launched two regionally adapted IWCA calculators for wineries in Australia and New Zealand. These tools have been developed in collaboration with Sustridge and Yealands for current and potential members of IWCA to calculate their annual GHG emissions inventories and include the most material emissions sources for typical wineries and vineyards.

 

#IWCA #wine #winelovers #MiguelTorres #winenews #iwca #racetozero #racetoresilience #sustainablewine #eyeonclimate #climatechange #sustainability #climateaction #wine #vino #vin #instawine @iwcawine

Collio Wine Region: a small yet rich wine treasure in northeast Italy – Filippo Magnani

Hidden in the Friuli-Venezia Giulia region, Collio is a gentle series of slopes where some of Italy’s best white wines are produced.  It is a small wine region within the province of Gorizia, near the Italian-Slovenia border. It was a great pleasure to be one of the lucky writers to participate in the press tour last November. The tour was organized by the Consorzio Collio DOC.  We had four days of intensive exploration and discovery, all dedicated to a protagonist of the Italian wine scene. I was thrilled and curious to dive into the small but rich world of this wine gem and my expectations were completely fulfilled.

A small wine territory with surprising complexity and richness

Collio is a radiant wine region where prestigious wines have been produced since ancient times. Vineyards and wineries are spread over rolling hills between 80 and 270 metres in height. For over 2000 years winemakers have had a special place for the production of a wide range of great wines in terms of style and grape variety. This ideal microclimate is generated by the presence of the Julian Alps to the north, which protects the valley by ensuring continuous ventilation from the “bora” that blows continuously over the vineyard. To the south, on the clearest days, you can observe the Adriatic Sea. The presence of the sea is fundamental for the health of the plants, the proximity to the Mediterranean Sea (30 km away) gives the area milder seasons, warmer air currents and a dry climate. These factors combined with the many variable soil compositions allow each corner of this DOC to express itself with its own character and charm in the wine. The so-called “Collio Goriziano” wine area is half-moon shaped territory bordered to the west by the river Isonzo and to the East by the river Judrio. It brings together the same DOC wines from 1500 hectares of vineyards positioned in eight different municipalities: Capriva, Cormòns, Dolegna del Collio, Farra d’Isonzo, Gorizia, Mossa, San Floriano del Collio and San Lorenzo Isontino.

The Collio valley is home to about 200 producers who, with vision and great dedication, have succeeded in tracing a well-defined common path which is able to maintain a strong link with traditions, and who are open to developments and innovations. For decades the famous native varieties and pillars of this wine area, such as Fiuliano, Ribolla Gialla, Malvasia Istriana and Picolit, have been accompanied by international varieties due to the great versatility of the land for the production of elegant white wines. In particular, the Pinot Grigio finds an absolutely suitable place for its maturation here, with its characteristic straw yellow colour, its ash hints, structure and length. To complete the wide range of white international grape varieties cultivated in the DOC we find the Chardonnay, Sauvignon, Muller Thurgau, Traminer Aromatico, Pinot Bianco and Riesling.

Despite the region of Collio being a well-known and renowned DOC for the production of a wide range of white wines, the surprising red wines also deserve to be mentioned. The trend is towards international grape varieties: Cabernet Sauvignon, Cabernet Franc, Merlot used predominantly for the most important vintages. The character of these wines very much reflects the territory in which we are: great drinkability, freshness, with an acidity that will allow these wines to express themselves at best in the battle with time.

“Ponca” Collio’s soil signature for the production of elegant wines

Taking a leap back 56 million years ago, the area of Collio was covered by sea, the land emerged after 20 million years. The hills of Collio hide the characteristics of the marine environment in their depths. It is precisely the soil, called Ponca or flynch, that is a protagonist in the great character and complexity of the wines of this territory. This soil is composed of layers of marl and sandstone of Eocene origin. It is the “heart of the hills” that yields the characteristics of salinity and minerality of the wines from the Collio DOC. The composition of “Ponca” also varies drastically in the vineyard’s locations, giving an incredible array of wines, depending on the type of vines planted. It is therefore the hand of man that must understand the land, shape it, and work it, to enhance the potential complexity and aging of the wines.

Four diverse subzones in the pursuit of excellence

The wine region of Collio regroups a mix of grape varieties, soils and types of wine made by growers with strong personalities. During our trip we had the chance to appreciate the peculiarities and the differences between those four main wine areas, spread between the eight different municipalities:

Capriva del Friuli

Capriva is an area totally covered by vineyards that vest the hills around the wine estates. This subzone, in the northern tip of the province of Gorizia, is among the most beautiful views of the Collio.

In the first morning of our trip, the Consorzio had organized the first tasting, covering the productions of different estates between Capriva del Friuli and Farra d’Isonzo. The producers presenting the wines were: Castello di Spessa, Russiz Superiore, Tenuta Villanova, Tenuta Borgo Conventi, Colmello di Grotta. All wines displayed intense and beautiful aromas in the nose. They also all had lively acidity, maintaining great balance and a fresh finish.

Cormons

In the central area of Collio, stands the town of Cormòns, surrounded by the hills that give life to the wine crus of Pradis, Plessiva, Brazzano and Zegla. There are wonderful wines produced here made from Pinot Grigio, Malvasia Istriana and Sauvignon Blanc, and the well-known Friulano. It is a lower-elevated area characterized by alluvial soils with a major presence of clay. During the afternoon of our first day, I had the pleasure to taste the wines of the following wineries: Tenuta Baroni del Mestri, Zorzon, Kurtin, Bolzicco, Carlo di Pradis, Bracco, Tenuta di Angoris. In general, they all expressed great texture with a good aromatic nose. They were vibrant and structured to the palate with a harmonious end.

Dolegna

The territory of Dolegna is the closest to the mountains. The vineyards are positioned at an elevation ranging between 50 and 90 metres. It’s quite a windy area. The area is also characterized by a cold and humid climate, particularly suitable for certain vines such as Sauvignon Blanc. We attended a wine seminar with a focus on Dolegna, on the second day, was very well organized and led by these estates: Tenuta Stella, Tenuta la Ponca, Fruscalzo, Pascolo, Casa delle Rose, Livon.  I found the wines well made, characterized by Intense flavours and aromaticity; dry, fragrant palate with good acidity; with rich and elegant aftertaste.

Oslavia

Oslavia is considered the homeland of the orange wines. This wine corner is the cradle of visionary winemakers who represent first class pioneers of the production of skin-macerated white wines. Ribolla Gialla is the signature native grape variety of Oslavia’s wine identity. During the afternoon of the second day, I was lucky enough to sit side by side with the great interpreters in the Collio wine scene and all of them were able to reveal their individualism: Dario Princic, Fiegl, Gravner, Il Carpino, La Castellada, Primosic, Radikon. I tasted a wide range of great wines, showing high intensity and complexity of aromas. I tasted well balanced wines with body and finesse, signs of great potential for aging.

San Floriano

From San Floriano you can see the entire Collio region. It is the highest subzone. The hamlets of San Floriano are the easternmost territories of the DOC and they receive the benefits of dry and milder winds from the Adriatic Sea. The microclimatic conditions allow slow ripening, and the wines gain characteristics that well communicate their aging potential. Here we had the final dinner of the trip with a great tasting of San Floriano’s wine representatives. The wine growers which presented their wines were: Korsic, Marcuzzi, Manià, Humar, Formentini, Gradis’ciutta. The wines in general were vibrant, with good fruit and crispy acidity. They had a common elegance and good persistence, all lovely long-lasting wines.

Collio, a wine destination beyond the wine

Collio is an extraordinary area, tucked away with wine-themed castles and hamlets like Ruttars, Spessa, GradisCiutta, Oslavia and picturesque villages like Dolegna del Collio, Capriva del Friuli, Cormons, Farra d’Isonzo and San Floriano del Collio, all bordering one another. A particular destination for wine connoisseurs and oenophiles who love to discover the secrets behind the scenes of some of northern Italy’s finest micro-wineries. The roads and knowledge of wine tourism seem to end on the imaginary line drawn by Venice, but this land preserves a bountiful cradle of Italian culture and Northern European subcultures due to the proximity with Austria and Slovenia. It’s a fascinating place.

Around the town of Gorizia, a city designated as European Capital of Cosmopolitan Culture for the year 2025 by the European Commission, there are wineries with distinctive souls. It brings together great visionary producers, family and independent productions, modern and traditional wineries, revolutionary winemakers, who have made this territory one of the richest and most precious nests of white wines in Italy. 

Along with the increasing success of the wine production, this strip of land has developed a great attitude towards reception and hospitality. The services related to hospitality are various and the experiences are many, you can choose to stay in a cosy B&B or in one of the charming country farms, or a hotel with luxury facilities. It is a perfect destination both for visitors that want to deep themselves in the authentic local culture, and also for those looking for a wild adventure.

Even the local Mittel European cuisine shows how the territory has been enriched by the different coexisting cultures. It is the meeting place of Hungarian and Austrian dishes with traditional Italian style. It is an extremely refined and elegant cuisine, which combines wild game with wines of incredible character and complexity.

To give a general overview of the territory and to better understand the wine region of Collio, the Consortium in collaboration with the Italian Sommelier Association, created “Enjoy Collio”. It is an event held in the autumn, addressed to international professionals and journalists and it is a unique opportunity to dig deeper into the immense and sometimes dispersive wine landscape of Friuli, tasting wines of exceptional craft but also combining experiences in authentic locations. The event brings together many facets of the territory, starting from the food and wine up to the hospitality, open air and sport activities.

Enjoy Collio aims to show the thriving potential of the Collio region. The road has been traced, and this represents the first great steps of a territory that is and will become more and more a great pride for the Italian wine and tourism scene.

#collio #consorziocollio #consorzio_collio #wine #winelovers #italianwine #italianwinelovers #colliowines #igersitalia #instawine #orangewine #redwine #whitewine #colliowinetourism #enjoycollio #Oslavia #travelling #winetourism

Mumm Millésimé 2015 – Virtual Tasting

Yesterday I participated in a virtual tasting with Cellar Master Laurent Fresnet of Maison Mumm to celebrate the release of Mumm Millésimé 2015. It was wonderful opportunity to see Laurent again and engage in the online conversation.  Unfortunately, I couldn’t participate in the tasting portion (at this time) my bottle was stuck at customs.

What I did learn – Mumm Millésimé 2015 is crafted exclusively from Pinot Noir grapes and were harvested from the best plots of the Montagne de Reims Grand Cru villages of Verzy, Ambonnay and Verzenay, and the Chardonnay grapes were harvested from plots in the Côte des Blancs Grand Cru villages of Cramant and Avize.

Mumm Millésimé 2015 blend

75% Pinot Noir

25% Chardonnay

[100% Grands Crus]

Mumm Millésimé 2015 underwent full malolactic fermentation which reveals supple, round character, delicate toasted aromas and notes of biscuit.

The dosage is 6 g/liter (brut).

This vintage was aged for five years in Maison Mumm’s cellars beneath the city of Reims.

Maison Mumm’s style reveals the essence of Pinot Noir – with its power and rich, elegant fruit, the black grape takes pride of place in the House’s classic blends, to which Chardonnay and Meunier grapes add their inimitable floral and fruity notes.

Tasting Notes:  watch this space for my tasting notes in the next few weeks.

#virtualtasting #winelover #wine #champagne #champagnelover #winetasting #Mumm #Mummexplores #MummChampagne #champagnetasting #champagnemoments #MummMillésimé2015

@GMMumm

Cult Wines Americas – The Future of Fine Wine Investment [Part 1]

The “Silver Linings” are real when it comes to fine wine. Despite 2021 being an unprecedented year due to COVID lockdowns, volatile markets, and Brexit challenges, it has been a record-breaking year for fine wine investment.

Both Champagne and Burgundy have an excellent final quarter, with Champagne gaining 22.98%, according to the Liv-ex Champagne 50 index, and the Burgundy 150 posted a 11.19% quarterly gain in advance of the upcoming 2020 vintage en primeur releases. The fine wine market certainly shows encouraging signs that a brighter future is ahead.

According to the Liv-ex Bordeaux 500 Index, over the last 18 months, there has been a resurgence of interest not only from those who have been building their wine portfolios over the longer term but also from new investors.

There are some big investors looking into this alternative-asset class including Warren Buffett himself, so I thought it would be a good idea to investigate further. Cult Wines Investment came on top of my searches.

About Cult Wines Investment
Founders Tom and Phil Gearing launched the Cult Wines platform in London during 2007 with the idea to revolutionize the way fine wine investment works and make the asset class more accessible. Not only is Cult Wine Investment the global leader in fine wine collection and investment management, but they are also on a mission to make investing in wine as enjoyable and rewarding as the wine itself.  The leadership team have a deep-rooted passion for fine vintages, and close relationships with prestigious and respected growers, as well as market-leading investment expertise.

Enters “Cult Wines” Americas
Cult Wines enters the North American market in 2021 with headquarters in New York and Toronto, as one of the first wine investment platforms with a special focus on US and Canadian investors.

“The US is a big player in the auction and collectors’ market but historically has been underserved in the wine investment market,” describes Tom Gearing, the CEO and co-founder of Cult Wines.

“Historically, the wine investment category has been perceived as only for the wealthy, or those with considerable wine knowledge. We know that is not the case and are enabling more people to invest effectively while maintaining the client service, impeccable standards, and returns for which we are known,” said Atul Tiwari, CEO Cult Wines Americas.

Cult Wine Investments website: www.wineinvestment.com

Here is a list of the Americas leadership team and either wines they have really enjoyed or regions they love.

Tom Gearing, Global CEO

Tom Gearing oversees the company’s overall strategy, global operations, and technology innovation. Tom has grown this start-up to an award-winning global company with $390 million assets under management (AUM) and 80+ employees in six offices including: United Kingdom, North America, and Asia Pacific.

Tom has been regularly quoted in the New York Times, Financial Times, Wall Street Journal, and Forbes. As well as being the recipient of numerous awards, he has received the Queen’s Award for Enterprise in the International Trade and the Spear’s 500. He also holds a WSET Level 3.

Tom’s Favorite Wines:

Tom enjoys chardonnay and pinot noir, and at the same time, he likes to try as many different styles and grape varieties as possible. His most memorable vinous experiences to date are Petrus ’61 en Magnum, Liger Belair La Romanee ’09 and Domaine Leroy, Richebourg ’03.

Atul Tiwari, CEO, Americas

Atul Tiwari leads the team and is responsible for the overall strategy and development of Cult Wines Americas. Hailed by Investment Executive as ‘having a knack for knowing what’s next.’

As former CEO of Vanguard Canada, Atul and his team helped pioneer ETF investing in Canada and grew the company to $30 billion in assets over 7.5 years. Prior to Vanguard, he was the founding President of BMO Exchange Traded Funds. In 2018 he received the Indo Canada Chamber of Commerce award for Corporate Executive of the Year and has twice been named to Wealth Professional’s annual list of People to Watch in the industry. Atul is a member of the Independent Review Committee for Mackenzie Funds, a Director of the D.D. Foundation, Atul is also a member of the Advisory Council for the CFA Society of Toronto and an Honorary Trustee of the Royal Ontario Museum.

Atul has previously managed a 4,000-bottle cellar of Bourgogne for Confrerie des Chevaliers du Tastevin (Toronto). It’s interesting to note that he also has a law degree from Osgoode Hall Law School and has practiced in both London (UK) and Toronto before transitioning to finance.

Atul’s Favorite Wines:

Atul has a passion and is very knowledgeable on Bourgogne, in addition he enjoys Bordeaux and Italian wines.

Carrie Tuck, CMO, Americas

Carrie has spent nearly two decades working in public relations and marketing for multimillion-dollar brands and start-ups within the financial services industry.

Prior to joining Cult Wines Americas as Chief Marketing Officer, Carrie was the Head of Marketing for Vanguard, Canada and was instrumental in building the brand in the region. Throughout her career, Carrie has held various senior positions at asset management and fund companies, where she ran marketing, product and client service. Carrie also holds a Bachelor of Arts (Honours) from Concordia University.

Favorite Wines:

Carrie likes to experiment with wine, so she seizes opportunities to try new wines whenever she can.

 

Jonathan Stevenson, EVP, Americas

Jonathan brings over ten years and extensive experience in the alternative investment sector of fine wine to his role of Executive Vice President at Cult Wines. In 2021, he was appointed to oversee Cult Wines’ global expansion into the Americas and is responsible for growing the client base.

Previously, Jonathan was the Sales Manager for the UK sales team. He began his career at Cult Wines as a Portfolio Manager after graduating from Newcastle University (UK) with a degree in Marketing and Management.

 

Favorite Wine:
Vega Sicilia Unico

– Up Next –

Cult Wines Americas – The Future of Fine Wine Investment [Part 2]

I will explore and do a deeper dive into this growing alternative-asset class, and explore Cult Wine’s new investment platform how it makes investing in fine wine more accessible!

#wine #finewine #wineinvestment #alternativeinvestment #winenews #winelovers #winecollectors #champagne #bordeaux #burgundy #finewinelovers #wineindustry #winebusiness #winetrade #winetrends #vin #frenchwine #winemarket #winenews #wineeconomics #vintagewine #wineinvestors #cultwines #cultwinesamericas #cultwinesUSA #cultwinescanada #cultcru #bourgogne #mycultcollection #winewednesday

 

Disclaimer

Past performance is not indicative of future success; the performance was calculated in GBP and will vary in other currencies. Any investment involves risk of partial or full loss of capital. The Cult Wines Index is a hypothetical tool. The results depicted here are not based on actual trading and do not account for the annual management fees that may be charged to a Cult Wines customer which ranges from 2.95% to 2.25% depending on the size of the portfolio, and there is no guarantee of similar performance with an investor’s particular portfolio.

SVB Wine Report: The US wine industry sees some challenges in 2022

According to the latest Silicon Valley Bank Wine Report shows that although 2021 proved to be a good year for the US wine industry, several serious challenges signal uncertain times ahead.

The report points out that underlying trends remained a big concern, with the most serious being that younger consumers are not getting interesting in wine, and wine is losing market share to spirits, craft beer, RTDs and other alcoholic drinks.

“This issue has yet to be addressed or solved, and the negative consequences are increasingly evident,” Rob McMillan, EVP and Founder, Premium Wine Division warned in the report. “Wine as a product has lost the lustre it once had with the consumer 20 years ago and is probably entering a phase of negative volume growth.”

“By 2025, 27.9 million Americans will cross normal retirement age at 66, while 30.3 million will cross age 40.5. That will be too many consumers leaving their best buying years, and too many consumers entering their best buying years, to ignore,” McMillan states.

The report also points out out the homogeny and lack of transparency of many entry level wines that was failing to appeal to younger, more health-conscious potential wine drinkers, who wanted to drink less but better, while the high price of more premium offering was another deterrent.

“Premium wine producers haven’t figured out how to produce their wine for an entry-level consumer. Without an on-ramp, it’s going to be hard to grow the wine category,” McMillan further states.

Declining volume sales

Across the on and off-trade, data from SipSource shows that growth in wine compared to spirits stalled at the onset of 2021, having both shown comparable volume growth during 2020. As the report showed, when businesses reopened in January 2021, that comparable trend took a dramatic turn and while spirits finished the year in 6.1% growth, wine was down -8.9%.

Although the report highlighted a number of tailwinds, it criticized the “lack of leadership within the wine industry to counter these obvious trends and cooperate to form a marketing organization to promote the wine category”.

This points to the potential decline of restaurants as an important channel for the wine industry in the US, the report also warned.

“The restaurant industry will likely continue to decline in its importance to the wine industry as a viable sales channel due to overpricing on the menu and consumers who value other alcoholic beverages over wine,” the report said. “Restaurants may find that wine is not in demand at the prices charged and that the cost to maintain deep stocks of wine is becoming senseless.”

There was evidence that the amount of wine sold through the wholesale channel fell throughout the year despite tasting rooms, restaurants, hotels and travel resuming business. This indicates that as restaurants reopened, wine inventories are being streamlined into smaller wine lists.

“The investment in long wine lists might be limited going forward,” McMillan said.

Other highlights:

• Consumer behaviour has irrevocably changed as a result of the pandemic – the switch to homeworking is set to stay, and the move to online purchasing is also set to remain.
• Premiumization has continue to accelerate, however the higher price points are being offset by lower total volumes.
• The industry needs to invest to accelerate, looking at online and ecommerce driven by data, rather than focusing on more traditional channels, such as the cellar door.
• A key warning came around anti-alcohol messaging, which it said continued to grow while guidelines from a variety of government and health organizations “loosely apply science to influence consumption and taxes”. However the greater threat was a push to place “additional and more dire cancer warnings on wine”. “The industry can’t allow that to become a reality.”

#wine #winetrade #winenews #wineeconomics #wineindustry #winelovers #SiliconValleyBank
#USwinemarket #SipSource #instawine #vin #instawine